Vladimir Putin, the President of Russia, announced at the Moscow Business Forum that the BRICS alliance, which comprises Brazil, Russia, India, China, and South Africa, will officially adopt cryptocurrencies for investment purposes. "We will work together on implementing digital currencies to encourage investment within BRICS nations," he stated, adding that "such action should positively impact other developing countries and the global economy." This move is predicted to be a game-changer for BRICS, with plans to roll out several economic programs, such as BRICS Pay, a blockchain-based payment platform, at the upcoming BRICS Summit 2024 scheduled for June 22–24.